Great Panther Silver Increases Q3 Production by 13 Percent

Great Panther Silver Ltd. (TSX:GPR,NYSEMKT:GPL) reported production results from its two wholly owned silver mining operations in Mexico. Although gold production decreased 11 percent, silver production was up 23 percent for the quarter in a year-over-year comparison.

As quoted in the press release:

Metal production, in terms of Ag eq oz, increased 13% compared to the third quarter of 2013 and showed a robust 24% increase over the second quarter of 2014. This was primarily due to the production ramp up at San Ignacio after initiating commercial production in June. In addition, silver grades improved significantly at Guanajuato over the second quarter of 2014.

Great Panther’s president and CEO, Robert Archer, said:

Great Panther delivered continued growth in the third quarter, setting new records for total metal production and silver production as we ramped up the San Ignacio Mine. I would like to congratulate our operations teams for their outstanding efforts, particularly at Guanajuato, where we have achieved a significant recovery from the difficulties experienced earlier in the year. We are tracking to our production guidance of 3.0-3.1 million Ag eq oz for the year and our main focus in the fourth quarter will be to continue to work on improving our efficiencies and lowering costs.

Click here to read the Great Panther Silver Ltd. (TSX:GPR,NYSEMKT:GPL) press release.